£ 3.7m equity funding to help Redline to improve aviation sector services
AN EQUITY house has invested £ 3.7m to support a Yorkshirebased security training provider to the aviation sector.
The funding, from Mobeus, will be used to accelerate the roll out of Doncaster- based Redline’s products and services in a number of new international markets.
Redline was founded by Paul Mason and Jim Termini after working together as helicopter pilots in the UK military.
The company’s 80 staff and 200 associates provide training and covert quality assurance services to a large number of customers, including UK airports.
Redline has seen growing international demand for its services in the last 12 months and the funds invested by Mobeus will support the business further international development.
Increasing passenger numbers and the need for heightened security have led to a rise in demand for Redline’s services.
Paul Mason, CEO of Redline, said: “The chance to work with a progressive, supportive equity house like Mobeus is an extremely exciting prospect for the whole team at Redline.
“We intend to maximise the opportunity to make a real dif-
PAUL MASON: ‘ We intend to maximise the opportunity to make a real difference.’ ference in a very uncertain world.”
Richard Babington, the Mobeus partner who led the transaction, said: “Britain is renowned worldwide for the quality of its aviation security, and Redline is the pre- eminent provider of aviation security training and quality assurance in Britain.
“We are delighted to be backing Paul, Jim and Redline as it continues to accelerate its development into Europe, the Middle East and Asia.”
Mobeus was introduced to the deal by Andrew Lock of Lock Dutton Corporate Finance and legal advice was provided by Squire Patton Boggs LLP.